Post by
soundandfury on Jul 01, 2022 10:11pm
Re: Cpg never lost a single penny to hedgeing
Lash if you check the latest quarterly report it states " realized loss on derivative contracts ($13.84 per barrel).......i do understand that this was a non cash loss.......but nonetheless cpg needed to produce those barrels and incurred expenses to do so..........so the actual monetary loss is actually much greater than the stated $13.84 per barrel as that amount does not include things like operateing ecpense ....transportation..........in other words they gave away about 1/3 of its funds flow netback for absolutely no monetary gain
Comment by
Lash99 on Jul 01, 2022 10:44pm
Well aren't I the stupid one. Let me check this out and get back to you. I do believe though what they tell me , (CPG) and that is they are not losing money from hedging but it is a necessary tool for them to use. Again the company is in far better shape than they use to be and hind sight is always 20/20. Would we be having this conversation if wti was at $60 ?